Page 2 - Self Sanctioning News Today

Self-sanctioning in a way on russian oil. >> all right. and well continue to watch the impact of all of this. anna stewart joining us live from london. many thanks. we have new developments on the investigation into the capitol riots. in a new court filing, the january 6 committee alleges that former u.s. president donald trump and right-wing lawyer john eastman were part of a conspiracy to overturn the 2020 presidential election. the committee alleges eastman helped to orchestrate the plot, a...

Beyond a certain point, a portion. i think todays news was not the statement by the president, he kind of reiterated what he said at the state of the union but the news was house speaker nancy pelosi said go ahead, go after the oil and when she said a lot of reporters on capitol hill perked up and eyebrows raised. if thats the case, shes willing to say yeah, we are going to pay more but lets stop the russian oil. what joe manchin has been saying for several days. >> sandra: i have news for you, ...

And a few weeks ago, that would have been absolutely unthinkable. but thats apparently still on the table at this stage. lets bring you oil prices right now. were looking at new multihighs. 118 brent. 15 for wti. extraordinary move theres, really. russia is actually struggling to sell oil, and there is a huge discount now on russian oil, around $18 a barrel lower than your general barrel of brent. so what were seeing here is actually self-sanctioning in a way is already taking place, with refine...

We are still missing millions out of the workforce. so one hand, ok, its fine, we are not breaking out the pom-pons. its getting worse for people. all they do is brag about stuff at the most inappropriate time, by the way. >> sandra: the energy policy is not working, obviously at the center of a war happening right now, and while the united states and see what the white house has to say a short time from now, the united states has not "banned" russian oil, the american oil companies, this is rem...

Self-sanctioning. what happens with the potential coordinated response, we are about to have the briefing happen at the white house, seeking to have this coordinated response from the united states and europe to cut off russia oil exports. see what the developments are on that front, but this is as the e.u. phases out russia oil, gas, oil and coal imports, but then germany, scholz is rejecting calls to ban russian oil and gas. i mean, this is a mess and a coordinated response would be nice but p...

Fascinating, the suggestion that sanctioning oil and gas is a measure that could be on the table. just a couple of weeks ago, speaking to experts, that was unthinkable given the wests reliance on energy. as you can see from oil prices and where theyre trading now, there is extreme volatility there. yesterday record highs. brent was up to 113. wow, $119 today. wti 115. were seeing new multiday records right here, right now. this is absolutely extraordinary. what is so interesting is actually russ...

Are too high to ensure some of those ships. what you have is self sanctioning within the industry, even without those sectors, that sector, being directly targeted. >> so what kind of everything could a crumbled russian economy have on the lives of every day americans? >> well, when you have sanctioning of individuals who are not going to want to go pick up or sell or trade russian oil and gas, this is the worlds second biggest exporter. it is a massive player. so when i woke up this morning, bl...

850 restaurants in russia. starbucks suspended business in russia and coca-cola is following mcdonalds. three huge american brands that will no longer be seen in russia. what is the impact of that on the russian psyche? >> we can add pepsico to the mix. i think it kind of encapsulates what weve been seeing. as one companys done this, other companies in the sector have followed suit. going back to the beginning, it started with a lot of people in this world who deal with sanctions that it was the...

Of this regime. he had tried to build this fortress balance sheet, 600 some billion dollars in foreign currency reserves and the west has cut him off from being able to use that. he is very isolated here. so are the russian people. he has pined for a pre-91 russia. >> this is self-sanctioning. these companies are doing it on their own because of the social and moral pressure here. theyre doing it. mcdonalds, they sell a lot of big macs in russia. they will notice it. its not like the people in k...

This weekend the card operators visa and mastercard have stopped their operations, today weve learned that american express have followed suit. joining me now is dr rebecca harding, independent trade economist and ceo of coriolis technologies. welcome to the programme, it is good to have you with us. we have seen many businesses saying we are just not going to operate in russia given what we are seeing in ukraine. that list is growing but notably there are still some international businesses ope...